* Says franchisee group wishes to continue working with co
* Group represents 85 pct of Denny's franchisees
April 15 Restaurant chain Dennys Corp (DENN.O),
which is involved in a proxy contest with a dissident
shareholder group, said its management had received a letter of
support from a group representing 85 percent of its
The dissident group, headed by Oak Street Capital
Management and Dash Acquisitions, owns about 6.3 percent of
Denny's common shares and has nominated three people for
election to the board at the company's annual meeting in May.
The group had claimed that Dennys management had not been
"responsive to its franchisees," Denny's said.
However, in a letter to the company, a representative of
Dennys Franchisee Association (DFA) said it was inaccurate to
say that the concerns of the DFA or franchisees have been
The DFA represents 85 percent of the company's franchised
The company said it had increased the percentage of
franchised-owned units to 85 percent in 2009 from 67 percent in
2007 in the past three years.
(Reporting by Mihir Dalal in Bangalore; Editing by Jarshad